Veritex Holdings, Inc. (NASDAQ:VBTX) Receives $27.50 Consensus Target Price from Analysts

Veritex Holdings, Inc. (NASDAQ:VBTX) has received an average recommendation of “Buy” from the five research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $28.00.

Several analysts have weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $29.00 price objective on shares of Veritex in a research report on Wednesday, August 28th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Piper Sandler boosted their target price on shares of Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, September 17th. Finally, Stephens boosted their price objective on shares of Veritex from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th.

Veritex Trading Up 0.2 %

NASDAQ VBTX opened at $26.20 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. Veritex has a fifty-two week low of $15.93 and a fifty-two week high of $26.72. The stock has a market cap of $1.43 billion, a P/E ratio of 15.23 and a beta of 1.37. The stock has a 50 day simple moving average of $23.98 and a two-hundred day simple moving average of $21.55.

Veritex (NASDAQ:VBTX) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $106.81 million for the quarter, compared to analysts’ expectations of $108.39 million. Veritex had a net margin of 11.52% and a return on equity of 7.97%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts forecast that Veritex will post 2.14 earnings per share for the current year.

Veritex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.20 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.05%. Veritex’s dividend payout ratio is presently 46.51%.

Institutional Investors Weigh In On Veritex

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Veritex by 12.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 647,486 shares of the financial services provider’s stock worth $15,067,000 after purchasing an additional 73,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Veritex by 19.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,853,774 shares of the financial services provider’s stock valued at $43,139,000 after acquiring an additional 305,980 shares during the period. Quest Partners LLC purchased a new stake in shares of Veritex during the 4th quarter valued at about $76,000. Tieton Capital Management LLC grew its stake in shares of Veritex by 37.5% in the fourth quarter. Tieton Capital Management LLC now owns 270,558 shares of the financial services provider’s stock worth $6,296,000 after acquiring an additional 73,761 shares during the period. Finally, Cape Investment Advisory Inc. purchased a new position in shares of Veritex during the fourth quarter valued at approximately $52,000. Institutional investors own 88.31% of the company’s stock.

About Veritex

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.